You are the payroll manager for a resort. Your daughter (Ellen Boxwood) is the marketing director earning a salary of $40,800 per year, payable monthly. She is married and claims three withholding allowances. Her social security number is 555-55-5555. In addition to federal income tax, social security, and Medicare, Ellen pays 2.3% state income tax, 1 2% for state disability insurance (both based on gross earnings), $35.63 for term life insurance, $135.28 to the credit union, and $30 to the United Way. Fill out the following payroll voucher for Ellen for the month of October. (Use Exhibit 9-1 and Exhibit 9-2 from your text. Social Security Tax is 6.2% of gross wages up to $128,400. Medicare Tax is 1.45% of all gross wages. ) Payroll Voucher Employee: Tax Filing Status: SSN: Withholding Allowances: Full-time Pay Period From to Primary Withholdings: Additional Withholdings: Federal income tax $ Term life $ Social Security $ Credit union $ Medicare $ United Way $ State income tax $ State disability $ Gross earnings: $ − Total withholdings: $ NET PAY $
You are the payroll manager for a resort. Your daughter (Ellen Boxwood) is the marketing director earning a salary of $40,800 per year, payable monthly. She is married and claims three withholding allowances. Her social security number is 555-55-5555. In addition to federal income tax, social security, and Medicare, Ellen pays 2.3% state income tax, 1 2% for state disability insurance (both based on gross earnings), $35.63 for term life insurance, $135.28 to the credit union, and $30 to the United Way. Fill out the following payroll voucher for Ellen for the month of October. (Use Exhibit 9-1 and Exhibit 9-2 from your text. Social Security Tax is 6.2% of gross wages up to $128,400. Medicare Tax is 1.45% of all gross wages. ) Payroll Voucher Employee: Tax Filing Status: SSN: Withholding Allowances: Full-time Pay Period From to Primary Withholdings: Additional Withholdings: Federal income tax $ Term life $ Social Security $ Credit union $ Medicare $ United Way $ State income tax $ State disability $ Gross earnings: $ − Total withholdings: $ NET PAY $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
You are the payroll manager for a resort. Your daughter (Ellen Boxwood) is the marketing director earning a salary of $40,800 per year, payable monthly. She is married and claims three withholding allowances. Her social security number is 555-55-5555.
In addition to federal income tax, social security, and Medicare, Ellen pays 2.3% state income tax,
%
for state disability insurance (both based on gross earnings), $35.63 for term life insurance, $135.28 to the credit union, and $30 to the United Way.
| 1 |
| 2 |
Fill out the following payroll voucher for Ellen for the month of October. (Use Exhibit 9-1 and Exhibit 9-2 from your text. Social Security Tax is 6.2% of gross wages up to $128,400. Medicare Tax is 1.45% of all gross wages. )
Payroll Voucher
| Employee: | Tax Filing Status: | |||||||||
| SSN: | Withholding Allowances: | |||||||||
| Full-time Pay Period From to | ||||||||||
| Primary Withholdings: | Additional Withholdings: | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Federal income tax | $ | Term life | $ | |||||||
| Social Security | $ | Credit union | $ | |||||||
| Medicare | $ | United Way | $ | |||||||
| State income tax | $ | |||||||||
| State disability | $ | |||||||||
|
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